Is Emigrant Direct a valid bank that I can put my money into?
I want to build up a savings account and was looking at Emigrant Direct but I'm wary of an online bank account that I don't know much about. Any advice would be greatly appreciated.
- 1 decade agoFavorite Answer
Emigrant Direct is absolutely a valid bank. It is the online division of Emigrant Savings Bank in New York which has been in operation since 1850. Emigrant Savings gets 4 out of 5 stars from Bauer Financial's Star Ratings.
Emigrant Direct has also had consistently high yields so your deposits are likely to earn one of the best rates available in the future too.
- swenjjLv 41 decade ago
yes, its fully insured the same as a local bank, i use ing, my wife wont do online banking,
i tried to explain that the local bank doesnt just put her money in a safe somewhere, they put everything on computers just the same as an online bank, except with more fees and less interest